AI-driven demand for chips and data-center infrastructure drove a 50.34% return for the fund, outpacing the MSCI tech index.
Columbia Seligman Global Technology Fund’s Institutional Class shares surged 50.34% in Q2 2026, surpassing the MSCI World Information Technology Index’s 33.65% gain. Strong stock selection in semiconductors, hardware, and software, alongside an off-benchmark electrical equipment allocation, fueled performance.
The rally was underpinned by easing geopolitical tensions and robust AI infrastructure spending, boosting demand for semiconductors, memory, and networking equipment. However, exposure to financials, consumer discretionary, and healthcare sectors weighed on relative returns.
The fund anticipates sustained AI and data-center investment, supported by improving software bookings and cloud consumption. Applied Materials (NASDAQ:AMAT) was highlighted as a key holding amid the sector’s growth.